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FINANCIAL NEWS
Hajj, Umrah bring USD16b revenue to Saudi Arabia: Paper
06 Jan 2013
(MENAFN) Saudi Arabia’s income from the annual pilgrimage rituals of Hajj and Umrah in 2012 grew by 10 percent from 2011, Arab News reported.
According to the paper, the Kingdom has reaped about USD16.5 billion from the pilgrims coming to the holy city of Makkah, Madinah and other religious sites in Saudi Arabia.
More than seven million pilgrims visit Saudi Arabia’s holy sites every year with religious tourists spending about USD10,000 per visit.
Tourism is the second largest industry in the country to employ Saudis, accounting for 8 percent of total jobs in the country, according to the Saudi Commission for Tourism and Antiquities.
Another report by Business Monitor International saw Saudi Arabia’s hotel rooms reaching 343,000 by 2015, up from 250,000 in 2011.
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04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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